ASML is approaching its January 28 earnings report amid strong signals of a semiconductor super-cycle, largely validated by TSMC's massive $54 billion capital expenditure plan for 2026.
- Analysts at Morgan Stanley and Bernstein anticipate ASML's Q4 2025 order intake will reach historical peaks, potentially hitting €8 billion to €9 billion.
- This record demand is driven by orders for advanced High-NA EUV machines, essential for the production of AI chips, which is expected to validate ASML’s highly optimistic 2026 revenue forecasts.